Ducera Partners

Last updated

Ducera Partners LLC
Company type Private
Industry Financial services
FoundedJune 2015;9 years ago (2015-06)
Founders
  • Michael Kramer
  • Derron Slonecker
  • Joshua Scherer
  • Agnes Tang
  • Adam Verost
Headquarters
Eleven Times Square, New York, U.S.
Key people
  • Michael Kramer (CEO)
Products
Number of employees
45 (2022)
Website www.ducerapartners.com

Ducera Partners (Ducera) is an American boutique investment bank that has a focus on advising companies regarding restructuring matters. Through its affiliate partners, it is also involved with wealth management and growth capital. Headquartered in New York, it has additional offices in Los Angeles, San Francisco and Stamford.

Contents

Founded in 2015 by bankers who had previously worked for Perella Weinberg Partners (PWP), Ducera has since been engaged in legal disputes with PWP.

History

Ducera was co-founded in 2015 by partners Michael Kramer, Derron Slonecker, Joshua Scherer, Agnes Tang, and Adam Verost. [1] [2] Kramer, Slonecker, Scherer and Verost had been colleagues at PWP, and were fired and sued by PWP, who claimed to have discovered their plan to leave and start their own firm. Kramer and his colleagues filed a countersuit for defamation and wrongful seizing of equity, in addition to denying their plan to leave. [3] In 2016, the New York state court dismissed some of the compensation claims of Ducera's co-founders while allowing their allegations of defamation and interference of business prospects to move forward. [4]

In 2015, Ducera restructured $72 billion worth of debt for a group of Puerto Rico Government Development Bank bondholders. [5] In 2016, Ducera and Morgan Stanley advised Monsanto on its sale to Bayer for US$66 billion, of which Ducera was stated to have taken in $50 million in fees. [6]

References

  1. ↑ Indap, Sujeet (August 9, 2018). "The spoils of being a partner at an investment bank". ft.com.
  2. ↑ La Roche, Julia (September 14, 2016). "Meet the banker behind the biggest deal of 2016". Yahoo Finance. Retrieved February 9, 2025.
  3. ↑ Indap, Sujeet; Fontanella-Khan, James (January 24, 2016). "Wall Street's battle of the bankers". Financial Times. Retrieved February 11, 2024.
  4. ↑ Dolmetsch, Chris (July 20, 2016). "Perella Weinberg Wins Ruling Narrowing Ex-Employees' Suit". www.bloomberg.com. Retrieved February 11, 2024.
  5. ↑ Keller, Laura (July 17, 2015). "Puerto Rico Lenders Said to Hire Ducera Partners as Adviser". www.bloomberg.com.
  6. ↑ Marino, Jon (May 23, 2016). "Meet the upstart bank that just took a piece of the biggest deal this year". CNBC.
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